CBN Boss Says, Newly Rehabilitated National Theatre to Host Creative, Tourism Events

The National Theatre is set to host several creative and tourism events, one of which is the United Nations World Tourism Organisation (UNWTO) and the federal government conference following the completion of the first phase of the rehabilitation of the National Arts Theatre, which was led by the Central Bank of Nigeria (CBN).

The UNWTO and federal government conference with the theme: “Linking Tourism, Culture and the Creative Industries: Pathways to Recovery and Inclusive Development”, is scheduled to commence from November 14 to16, 2022 in Lagos.

Commenting on the completion of the first phase, the Governor of the CBN, Mr. Godwin Emefiele, represented by his deputy, Mrs Aishah Ahmad, said the facility would help the country to create a world-class creative sector at home.

Recall, in 2020, the CBN and the Bankers Committee collaborated to invest over N65 billion to rehabilitate the National Theatre while working with the Federal Ministry of Information and Culture, the Ministry of Youth and Sports Development and the Lagos State Government.

They have in the last 18 months, commenced the complex rehabilitation project and rebuilt the huge entertainment facility – with more than 70 historic sculptures, mosaics, resin, brass and wood friezes, and stained glass artworks forming part of the original design.

It was gathered that each of the historic sculptures, required to be protected during renovation, or in some cases, removed and restored before being replaced.

Nevertheless, when the second phase of the rehabilitation works is completed in March 2023, the National Theatre would be reinstated to its original glory with a 5,000-seater main amphitheatre similar to anything else in the world, flanked by two world-class cinema rooms, banquet halls, and a library.

It was gathered that the project is not just about restoring a building but also crafting an ecosystem of support for the creative sector, to form part of what is called the Lagos Creative & Entertainment Centre (LC&EC).

Additionally, the theatre itself will be at the heart of a larger development of hubs focused on supporting emerging talent in the music, film, fashion, and IT sectors.

The creative hubs are built on portions of land within the 44-hectare site.

The first phase known as the “Signature Cluster,” according to the Bankers’ Committee, consists of a building each for fashion, music, film, and IT and support facilities, including a 250-car park block, a police station, a fire station, and a visitors’ welcome centre, which will house commercial and retail facilities, administration and management offices.

According to the CBN Governor, Godwin Emefiele, with the completion of the first phase, the facility would help the country to create a world-class creative sector at home.

Emefiele said: “The National Theatre is one of the symbols of Nigeria’s culture and heritage and must be at the heart of our work to enhance and celebrate the creative industries.

“The completion of phase 1 is a demonstration of the outcomes we can achieve when we work together as the public and private sectors. The central bank has been able to bring together the diverse set of stakeholders required to ensure that this project is delivered, from the Bankers Committee to the Ministries of Information and Culture, and Youth and Sports Development and the Lagos State Government.”

Emefiele also thanked President Muhammadu Buhari for his “overwhelming support that has made the restoration of this national iconic symbol of arts and culture a reality.

“Together, we are not just restoring the National Theatre to its former glory, but we are establishing the wider foundations on which we can build a truly world-class creative sector, at home,” the apex bank boss added.

Emefiele has expressed the confident that the resuscitation of the National Arts Theatre would be completed by 2023 and that beginning in 2023, the annual Arise Fashion exhibition would be held within the main bowl of the National Arts Theatre in Lagos.

He disclosed that it was costing the bankers’ committee almost $100 million to “resuscitate and revamp the National Arts theatre.”

The CBN governor while speaking at the Arise Fashion Show in Dubai, United Arab Emirates, last year, asserted that the creative industry remained an important and large industry in Nigeria with a revenue projection of about $4.5 billion annually, stressing that the federal government was doing everything possible to support the creative sector, while the monetary policy also was committed to supporting the growth of the industry.

Emefiele added, “It is not just about resuscitating it, but by the side of the National Arts Theatre, what we do intend to do is to develop four creative hubs around the theatre.

“As you know, the National Art Center can sit in a particular gathering of at least 7,500 people.

“And we do hope that from 2023 and onwards we will begin to see these fashion shows being held around the premises of the National Arts Theatre,” he emphasized.